While it looks at other opportunities in the space
Dundee-headquartered wealth firm Thorntons Investment has entered into M&A deals with two financial advisory firms.
It acquired Matheson Financial Consulting in Aberdeen and Sonas Wealth Management in Dundee for undisclosed sums.
The deals add around £175m in assets under management to the firm’s existing £420m ($574m, €471m).
Both Matheson and Sonas will retain their business models and leadership, as part of the deal, while the unification under the Thorntons brand will happen in due course.
Back office systems and support functions, however, will be integrated straight away.
‘Regulatory pressures’